Note: All changes are versus the prior-year period unless otherwise stated
CEO Emma Walmsley remarked that GlaxoSmithKline "has responded well to a challenging operating environment this year," citing "strong commercial momentum in key growth products including Nucala, Trelegy, Benlysta, two drug-HIV regimens, Zejula, Shingrix and our priority consumer healthcare brands." The executive added "this, combined with improving vaccination rates this quarter, means we are on track to deliver within our earnings guidance range for 2020."
The drugmaker noted that the COVID-19 pandemic has impacted its performance in the first nine months of 2020, particularly when it comes to vaccines, but "during the third quarter, we have seen a recovery in vaccination rates, including adult immunisation rates in the US returning to prior-year levels in the last month of the quarter."
GlaxoSmithKline reaffirmed that it expects adjusted earnings per share this year to decline by 1% to 4% at constant exchange rates, although most likely at the lower end of the range, assuming "sustained recovery of adult immunisation rates, particularly in Shingrix."
Walmsley also highlighted that the drugmaker is "advancing possible COVID-19 solutions with our partners, including clinical trials for antibody therapy VIR-7831 and three different adjuvanted vaccines. We expect to see data on all of these before the end of the year." Also on Wednesday, GlaxoSmithKline and partner Sanofi agreed to make available 200 million doses of their COVID-19 vaccine to the World Health Organization's COVAX facility.
GlaxoSmithKline disclosed that the IL-33 receptor antagonist GSK3772847 for the treatment of asthma has been removed from Phase I expansion/ Phase II development.
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